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Cipla Ltd. — Earnings Release 2026
May 13, 2026
59275_rns_2026-05-13_aad92552-bb34-4761-8108-749d3507544c.pdf
Earnings Release
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Cipla
$13^{\text{th}}$ May, 2026
(1) BSE Ltd
Listing Department
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai 400 001
Scrip Code: 500087
(2) National Stock Exchange of India Ltd
Listing Department
Exchange Plaza, $5^{\text{th}}$ floor,
Plot no. C/1, G Block,
Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051
Scrip Symbol: CIPLA
(3) SOCIETE DE LA BOURSE DE LUXEMBOURG
Societe Anonyme
35A Boulevard Joseph II,
L-1840 Luxembourg
Sub: Press Release
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Press Release dated $13^{\text{th}}$ May, 2026.
Kindly take the above information on record.
Thanking you,
Yours faithfully,
For Cipla Limited
RAJENDRA CHOPRA
Digitally signed by RAJENDRA CHOPRA
Date: 2026.05.13 12:54:41 +05'30'
Rajendra Chopra
Company Secretary
Encl: As above
Prepared by: Neelam Padwad
Cipla Ltd.
Regd. Office - Cipla House, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai-400 013, India
P +91 22 41916000 W www.cipla.com E-mail [email protected] Corporate Identity Number L24239MH1935PLC002380
Cipla
Q4 FY26 Results
India Delivered Double-Digit Growth; North America Secured Approval for first AB-rated gVentolin
| Income from Operations | EBITDA | PAT | |
|---|---|---|---|
| Q4: | INR 6,541 Cr | INR 997 Cr | INR 555 Cr |
| (15.2% Margin) | (8.5% Margin) | ||
| FY26: | INR 28,163 Cr | INR 5,925 Cr | INR 3,879 Cr |
| (21.0% Margin) | (13.8% Margin) |
Mumbai, May 13, 2026: Cipla Limited (BSE: 500087, NSE: CIPLA) today announced its audited consolidated financial results for the quarter ended March 31st, 2026.
Key Highlights for the Quarter
- One-India: One India business grew at a robust 15% YoY with all 3 segments delivering double-digit-growth during the quarter. The Branded Prescription business sustained growth momentum in key chronic therapies, Trade Generics continued its steady growth and anchor brands of CHL continued to grow bigger.
- North America: Delivered quarterly revenue of $155 Mn supported by demand in differentiated portfolio and a steady base business.
- One Africa: Growth momentum remained strong with overall quarterly revenue recording a robust 14% YoY growth in USD terms.
- Emerging Markets and Europe: The EMEU business delivered $90 Mn during the quarter, while demonstrating resilience amid geopolitical uncertainties.
- R&D investments: Stood at INR 509 Cr or 7.8% of sales for the quarter, driven by product filings and development efforts.
- Strong net cash: Net cash position of INR 10,526 Cr; Debt primarily includes lease liabilities and working capital requirements.
"I am pleased to share that we continue to make considerable progress across our focused markets. In FY26, we recorded our highest-ever yearly revenue of INR 28,163 Cr, reflecting the strength of our core businesses despite certain markets facing near-term challenges. Our One-India business surpassed the INR 12,500 Cr annual revenue milestone. Key therapies in Branded Prescription business delivered robust double-digit growth, Trade Generics business sustained the strong growth momentum and anchor brands of Consumer Health Business maintained leadership position. The US business posted an annual revenue of USD 780 Mn supported by demand in our differentiated portfolio and a steady base business. In One Africa, we recorded a healthy annual growth of 7% YoY in USD terms, driven by firm performance across key markets. Emerging Markets and Europe crossed the USD 400 Mn+ annualised revenue threshold on the back of deep market focus strategy. Going ahead, the focus will be on growing our key markets, further building our flagship brands, investing in future pipeline as well as focusing on resolutions on the regulatory front".
Achin Gupta
MD and Global CEO, Cipla Ltd
For Queries Contact:
Corporate Communications
Heena Kanai
[email protected]
Investor Relations
Diksha Maheshwari
[email protected]
Cipla Ltd.
Cipla House,
Peninsula Business Park,
Ganpatrao Kadam Marg,
Lower Parel, Mumbai-400013
Market Updates
One India Business
Branded Prescription:
During the year, key therapies like Respiratory, Urology, Anti-diabetes and Cardiac recorded double-digit market growth with chronic mix at 60.2%. Foracort continued its strong performance breaching the INR 1,000 Cr+ threshold. Dytor has emerged as an INR 650+ Cr in-house cardiac brand, delivering 25% YoY growth in the IPM.
Trade Generics:
The business delivered strong double-digit growth during the year. This performance was supported by execution excellence in key therapies, new introductions and technological interventions.
Consumer Health:
Anchor brands of Nicotex, Omnigel and Cipladine maintained leadership positions in the respective market segments.
North America
North America delivered an annual revenue of $780 Mn, supported by demand in differentiated assets and a steady base business. During the year, the business advanced its portfolio with several key assets, including Liraglutide, Nintedanib, Dapagliflozin. Notably, the business received regulatory approval for the first AB-rated gVentolin with CGT, representing the first commercial MDI product to be manufactured from our U.S. facility.
One Africa
One Africa delivered strong performance, achieving a healthy annual growth of 7% YoY in USD terms. In the Private Market**, secondary growth outpaced the market growth at 6.6% versus the market growth of 4.8%. This growth was propelled by uptick in key therapies, new launches as well as the expansion of OTC portfolio.
Emerging Markets and Europe
Deep market focus strategy in Emerging Markets and Europe has laid a strong foundation, with the business surpassing the USD 400 Mn annual revenue milestone. This performance was led by expansion across both DTM and B2B categories, alongside consistent margin stability.
Regulatory update
The USFDA completed inspections at our manufacturing facilities in Bommasandra (Bengaluru), Sitec (Navi Mumbai), and Medispray (Goa) facilities, with all of these sites receiving a 'VAI' or 'NAI' classification.
** As per IQVIA MAT Mar'26 | ## As per IQVIA MAT Feb'26
Dividend Note
The Board of Directors of the Company at its meeting held on 13th May, 2026 has recommended a final dividend of ₹ 13/- per equity share (face value of ₹ 2 each) for the financial year ended 31st March, 2026. The dividend is subject to approval of the shareholders at the ensuing annual general meeting of the Company.
QUARTERLY BUSINESS WISE SALES PERFORMANCE
| Business (In INR Cr) | Q4FY26 | Q4FY25 | Y-o-Y Growth |
|---|---|---|---|
| One India (Rx + Gx +CHL^) | 3,007 | 2,622 | 15% |
| North America | 1,414 | 1,919 | -26% |
| One Africa# | 1,236 | 1,019 | 21% |
| South Africa | 984 | 738 | 33% |
| Emerging Markets and Europe | 819 | 895 | -9% |
| API and Others | 64 | 274 | -77% |
| Total | 6,541 | 6,730 | -3% |
ANNUAL BUSINESS WISE SALES PERFORMANCE
| Business (In INR Cr) | FY26 | FY25 | Y-o-Y Growth |
|---|---|---|---|
| One India (Rx + Gx + CHL^) | 12,680 | 11,615 | 9% |
| North America | 6,871 | 7,899 | -13% |
| One Africa# | 4,287 | 3,827 | 12% |
| South Africa | 3,364 | 2,932 | 15% |
| Emerging Markets and Europe | 3,576 | 3,305 | 8% |
| API and Others | 749 | 902 | -17% |
| Total | 28,163 | 27,548 | 2% |
^ CHL – Cipla Health limited | # One Africa includes South Africa, North Africa, Sub-Saharan Africa and Cipla Global Access
CONSOLIDATED PROFIT & LOSS STATEMENT – Q4 FY26
| In INR Cr | Q4FY26 | Q4FY25 |
|---|---|---|
| Total Income from Operations | 6,541 | 6,730 |
| EBITDA | 997 | 1,538 |
| % of Income from Operations | 15.2% | 22.8% |
| PAT | 555 | 1,222 |
CONSOLIDATED PROFIT & LOSS STATEMENT – FY26
| In INR Cr | FY26 | FY25 |
|---|---|---|
| Total Income from Operations | 28,163 | 27,548 |
| EBITDA | 5,925 | 7,128 |
| % of Income from Operations | 21.0% | 25.9% |
| PAT | 3,879 | 5,273 |
BALANCE SHEET (Reported)
| Key Balance Sheet Items (INR Cr) | Mar-26 | Sep-25 | Mar-25 |
|---|---|---|---|
| Equity | 34,520 | 33,025 | 31,289 |
| Total Debt* | 614 | 467 | 438 |
| Inventory | 6,597 | 6,160 | 5,642 |
| Cash and Cash Equivalents* | 11,140 | 10,368 | 10,807 |
| Trade Receivables | 5,620 | 6,902 | 5,506 |
| Trade Payables | 3,230 | 3,035 | 2,837 |
| Net Tangible Assets | 7,626 | 6,996 | 6,586 |
| Goodwill and Intangibles | 6,850 | 5,374 | 4,986 |
- Total debt includes lease liabilities and borrowings | * Cash & cash equivalents include current investments, fixed deposits, margin deposits and excluding unclaimed dividend balances | Figures have been rounded off
Announcement
Cipla to release Q4FY26 audited Financial Results on May 13, 2026
Date: May 13, 2026
- 1600 hrs IST – EARNINGS CONFERENCE CALL
The Company will host an earnings conference call at 1600 hrs IST (1830 hrs SST/HKT, 1130 hrs BST, 0630 hrs US ET), during which the leadership team will discuss financial performance and take questions. A transcript of the conference call will be available at www.cipla.com.
Earnings Conference Call Dial-in Information
| Date and Time | May 13, 2026 at
1600 – 1700 hrs IST
1830 – 1930 hrs SST/HKT
1130 – 1230 hrs BST
0630 – 0730 hrs US ET |
| --- | --- |
| Dial-in Numbers | |
| Universal Access | Primary Access: (+91 22 6280 1562)
(+91 22 7115 8387) |
| Diamond pass link | Click here to register |
| Toll Free Number | USA: 18667462133
UK: 08081011573
Hong Kong: 800964448
Singapore: 8001012045 |
| | |
ABOUT CIPLA LTD
Established in 1935, Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets. Our strengths in the respiratory, anti-retroviral, urology, cardiology, anti-infective and CNS segments are well-known. Our 46 manufacturing sites around the world produce 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to our 80+ markets. Cipla is ranked 3rd largest in pharma in India (IQVIA MAT Mar'26), second largest in the pharma prescription market in South Africa (IQVIA MAT Feb'26), and 3rd largest Respiratory player by prescription in the US Gx (IQVIA MAT Mar'26). For over eight decades, making a difference to patients has inspired every aspect of Cipla's work. Our paradigm-changing offer of a triple anti-retroviral therapy in HIV/AIDS at less than a dollar a day in Africa in 2001 is widely acknowledged as having contributed to bringing inclusiveness, accessibility and affordability to the centre of the HIV movement. A responsible corporate citizen, Cipla's humanitarian approach to healthcare in pursuit of its purpose of 'Caring for Life' and deep-rooted community links wherever it is present make it a partner of choice to global health bodies, peers and all stakeholders. For more, please visit www.cipla.com, or click on Twitter, Facebook, LinkedIn.
Disclaimer: Except for the historical information contained herein, statements in this presentation and the subsequent discussions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, our ability to obtain regulatory approvals, technological changes, fluctuation in earnings, foreign exchange rates, our ability to manage international operations and exports, our exposure to market risks as well as other risks. Cipla Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.